Haiti Economy: from the All Country Info reference guide to country facts

Haiti Economy

Haiti Economy: A summary of information about Haiti Economy, from government research data as well as independent research and other sources.

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Haiti: Economy

Economy - overview
About 80% of the population lives in abject
poverty. Nearly 70% of all Haitians depend on the agriculture sector,
which consists mainly of small-scale subsistence farming and employs
about two-thirds of the economically active work force. The country
has experienced little job creation since President PREVAL took office
in February 1996, although the informal economy is growing. Failure to
reach agreements with international sponsors have denied Haiti badly
needed budget and development assistance. Meeting aid conditions in
2000 will be especially challenging in the face of mounting popular
criticism of reforms.
GDP
purchasing power parity - $9.2 billion (1999 est.)
GDP - real growth rate
2.4% (1999 est.)
GDP - per capita
purchasing power parity - $1,340 (1999 est.)
GDP - composition by sector
agriculture: 32%
industry: 20%
services: 48% (1998 est.)
Population below poverty line
80% (1998 est.)
Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
9% (1999 est.)
Labor force
3.6 million (1995)
note: shortage of skilled labor, unskilled labor abundant (1998)
Labor force - by occupation
agriculture 66%, services 25%, industry
9%
Unemployment rate
70%; widespread underemployment; more than
two-thirds of the labor force do not have formal jobs (1999)
Budget
revenues: $323 million
expenditures: $363 million, including capital expenditures of $NA
(FY97/98 est.)
Industries
sugar refining, flour milling, textiles, cement, tourism,
light assembly industries based on imported parts
Industrial production growth rate
0.6% (1997 est.)
Electricity - production
728 million kWh (1998)
Electricity - production by source
fossil fuel: 55.63%
hydro: 41.62%
nuclear: 0%
other: 2.75% (1998)
Electricity - consumption
677 million kWh (1998)
Electricity - exports
0 kWh (1998)
Electricity - imports
0 kWh (1998)
Agriculture - products
coffee, mangoes, sugarcane, rice, corn,
sorghum; wood
Exports
$322 million (f.o.b., 1999)
Exports - commodities
manufactures, coffee, oils, mangoes
Exports - partners
US 86%, EU 11% (1998)
Imports
$762 million (c.i.f., 1999)
Imports - commodities
food, machinery and transport equipment, fuels
Imports - partners
US 60%, EU 12% (1998)
Debt - external
$1 billion (1997 est.)
Economic aid - recipient
$730.6 million (1995)
Currency
1 gourde (G) = 100 centimes
Exchange rates
gourdes (G) per US$1 - 18.262 (January 2000), 17.965
(1999), 16.505 (1998), 17.311 (1997), 15.093 (1996), 16.160 (1995)
Fiscal year
1 October - 30 September
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